ATLANTA, GA--(Marketwire - August 12, 2010) - Homes, home sites, condominiums, townhouses, commercial buildings and land will be among more than 265 residential and commercial properties in 32 Georgia counties that will sell at absolute auction Aug. 31 and Sept. 1.

The properties are part of a portfolio acquired by State Bank and Trust Company after the failure of the banks that previously owned them, according to John Dixon, of Marietta-based John Dixon & Associates, which will manage the auctions.

"The seller felt that it was important for the bank, the communities and the Georgia economy as a whole to put these properties back into the hands of people who can make them a functional part of the economy once again. This auction will provide homes for families and investors, as well as home sites for future residential and commercial construction and development," said Dixon.

"An empty house hurts the whole neighborhood, and after this sale, every one of those homes will have a new owner -- either someone who will move in or someone who will lease it out as an investment. In either case, it clears the way for someone to move in, which is good for everybody," he said.

"We will be selling a wide variety of properties, including condominiums, residential lots, commercial buildings and commercial land," said Dixon. "The properties clustered in the Atlanta area will be sold at 3 p.m. Tuesday, Aug. 31, at the Atlanta Perimeter Center Marriott. The properties around Macon will be sold the next day, at 3 p.m. Wednesday, Sept. 1, at the Hilton Garden Inn Macon/Mercer University."

The Atlanta event will include more than 100 home sites, as well as single family residences, townhouses and commercial property.

The Macon event will include more than 20 single family residences, primarily in Macon. It will also include more than 70 lots, including 21 in Warner Robbins.

Details and photos of the properties included in both events are available at www.johndixon.com. Individuals interested in bidding may also call the auction company at 800-479-1763. More auction information.